Home Market Sensex falls 200 points, Nifty gives up 17350 on weak global cues

Sensex falls 200 points, Nifty gives up 17350 on weak global cues

Sensex ends at fresh lifetime high of 56,889 points

Domestic equity market indices BSE Sensex and Nifty 50 were trading weak on Monday, mirroring the global markets. BSE Sensex was hovering around 58,050, while the Nifty 50 index gave up 17,350. HCL Tech, Reliance Industries Ltd (RIL), ICICI Bank, Nestle India, Infosys, Tech Mahindra, Bajaj Finance were among the top BSE Sensex losers. Housing Development Finance Corporation (HDFC), Maruti Suzuki, Tata Consultancy Services (TCS), Tata Steel, Bajaj Auto, Bharti Airtel were among BSE Sensex leaders.

Except for Nifty Media, Nifty Metal and Nifty Realty, all the sectoral indices were trading in the negative territory. Bank Nifty fell over half a per cent to 36483. 

The outlook for increased manufacturing activities in the second quarter of this fiscal has been significantly improved, though the cost of doing business and production is rising, according to a survey by industry chamber FICCI. As per FICCI’s latest quarterly survey (Q2) on manufacturing, industry respondents have attributed the hike in production costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, and a drastic reduction in volumes due to lockdown.

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